Myriad Genetics, Inc. (NASDAQ:MYGN) Stake Boosted by Algert Global LLC

Algert Global LLC increased its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 182.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 60,098 shares of the company’s stock after buying an additional 38,818 shares during the quarter. Algert Global LLC’s holdings in Myriad Genetics were worth $824,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MYGN. Vanguard Group Inc. raised its stake in shares of Myriad Genetics by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock worth $145,203,000 after purchasing an additional 279,379 shares in the last quarter. Earnest Partners LLC raised its position in Myriad Genetics by 0.4% during the fourth quarter. Earnest Partners LLC now owns 3,971,598 shares of the company’s stock valued at $54,451,000 after acquiring an additional 15,650 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Myriad Genetics by 13.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock valued at $37,932,000 after acquiring an additional 336,770 shares during the last quarter. Sei Investments Co. grew its position in Myriad Genetics by 7.4% in the fourth quarter. Sei Investments Co. now owns 2,526,761 shares of the company’s stock worth $34,642,000 after acquiring an additional 174,770 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Myriad Genetics by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,125,535 shares of the company’s stock worth $15,431,000 after purchasing an additional 42,233 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Down 3.5 %

MYGN opened at $3.89 on Friday. Myriad Genetics, Inc. has a fifty-two week low of $3.86 and a fifty-two week high of $29.30. The company has a market capitalization of $358.55 million, a P/E ratio of -2.99 and a beta of 2.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The firm’s fifty day moving average price is $8.35 and its two-hundred day moving average price is $12.50.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $195.90 million for the quarter, compared to analysts’ expectations of $200.37 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The firm’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MYGN shares. The Goldman Sachs Group decreased their price objective on shares of Myriad Genetics from $14.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler raised Myriad Genetics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Wolfe Research cut Myriad Genetics from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Scotiabank dropped their price target on shares of Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 1st. Finally, Raymond James reaffirmed an “outperform” rating and set a $10.00 price objective (down from $19.00) on shares of Myriad Genetics in a report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $16.04.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.